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PBS
Feb 14, 2013 7:00pm EST
tonight. hungry for a deal, warren buffett partners up to buy up ketchup maker heinz in a $28 billion deal. the u.s. airways/american airlines merger is ready for take-off, and the companies say they see no turbulence ahead from washington regulators. and senate democrats offer their plan to head off the sequester's sharp spending cuts. we get the details from michigan senator debbie stabenow. we have that and more tonight on "n.b.r." two big sweetheart deals on this valentine's day: american airlines is merging with u.s. airways, creating the world's largest airline company; and warren buffett is buying h.j. heinz, the biggest food company acquisition ever. we'll have more on american in a moment, but we begin tonight with buffett and that surprising mega-food deal. the billionaire investor is teaming up with the billionaire owners of 3g capital to buy the ketchup maker for $28 billion. the private equity group and buffett's berkshire hathaway are paying $72.50 a share in cash. that's a 20% premium over heinz's closing price yesterday. ruben ramirez reports. >> reporter: the
PBS
Feb 14, 2013 7:00pm PST
private. >> warren buffett is starting to get older at this point, and, in this case, he's having 3g handle the operational side of this transaction. >> reporter: while buffett's age may be advancing, he's still very interested in doing deals in well-known brands. it's not the first time buffett has partnered to do a deal. five years ago, berkshire worked with mars in a $23 billion acquisition of wrigley. and just last year, berkshire was part of an unsuccessful $10 billion bid by coty to buy avon. but new york university business professor aswath damodaran says this deal is all about the experience 3g's team brings to the table. >> the one thing they have going for them is, they've run other companies very well in brazil for a long time. and these are people with a long history in consumer products. >> reporter: others say 3g, like buffett, is in it for the long- haul. >> 3g likes to hold its investments for the long-term, so it doesn't look to, like, buy then sell in a few years like a lot of private equity firms. >> reporter: 3g is run by jorge paulo lemann. he and buffett both se
FOX Business
Feb 14, 2013 4:00pm EST
share. warren buffett is not known for putting the company without bounds savings. >> legal owner interest and maybe even larger interest over time. my guess is i am sure they will be her partner forever on that. this is not a private equity deal. this is an operational business deal. liz: there has been no discussion about putting it up? >> we are putting money in it, but were not going to take money out. liz: no, he will not be in the test kitchen, david. i will say this, he expects absolutely no counter bids on this. he believes that this is the deal that will stand. in the meantime, minutes from now, warren buffett's company, berkshire hathaway, will release the quarterly filing. that is where they show what investments they change when it comes to stock holdings. the second those flashers start to move, we will tell you what he has lightened up on. >> is to give you an idea, $14 billion worth of coca-cola shares. $13 billion of that, 14 billion, are they going to keep it or dump some of the? questions will be answered coming out. liz: all of that and more. david: the governme
FOX Business
Feb 14, 2013 9:20am EST
. they don't like the pipeline. hold on a second, we're not done. warren buffett buys heinz 28 billion dollars, windfall for john kerry? "varney & company" is about to begin. ♪ [ cows moo ] [ sizzling ] mo rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. >> you know, this is the big deal of the year so far. wait for it, warren buffett's berkshire hathaway and 3g capital buying heinz, 28 billion dollars. heinz shareholders will get 72.50 for each common stock they own, that's a 20% gain over yesterday's closing price. 28 billion total, and the shares in the pre-market close to 72.50. there's a side bar here in the newly installed secretary of state john kerry, his wife is part of the heinz family. all right, it's official now, u.s. airways, american airlines are going to merge, a 11 billion dollar all stock deal creating the world's largest airline and shareholders
FOX Business
Feb 16, 2013 6:00pm EST
. the $28 billion that warren buffett is forking over for h.j. heinz, and the 11 billion-dollar merger between amr and u.s. airways. and i'm not including anheuser-busch more than big numbers and big deals. a big question. why is all this happening right now? why in an environment where taxes are going up a lot, why are we back to the deals with the likes of which we haven't seen since those lazy and hazy, much lower tax rate of 2005? well, it could be that companies simply have no else where else to put their cash or maybe it is all part of a big bunker mentality. too risky to start something new. so they are just buying out arrival or twotheir own business. the deals are back. usually that is good for investors. but before the president takes a bow and since christmas, maybe you should take note that these guys are spending all this money, not as an endorsement, maybe as a defense against it. the real story behind all of this, we have matt schuett. what is going on? >> well, there's a lot of cash out there. not returning anything. borrowing costs are very low. stocks are pretty cheap
FOX Business
Feb 14, 2013 11:00am EST
hit heinz. i am going to stick with heinz. warren buffett, berkshire hathaway. obviously at a premium. heinz is up 20%. watch the 3:00 p.m. show, we will certainly delve into it more for you. he loves their products. he loves the emerging markets. he thinks it was a great buy. then, we will talk about u.s. airways and american airlines merger. you can see they are finally coming together. the u.s. airways ceo will remain in the top spot as ceo. u.s. airways is down right now. dagen: thank you, nicole. connell: we are waiting for the speaker of the house, john boehner. we say take a look at this. a little over two weeks until automatic spending cuts will kick in. congress taking a week off leaving you just six working days to get something done. dagen: wait until the last minute has become the norm. how do you think this plays out? >> i think the impact on the economy will be small. the cuts are relatively small. we had $175 billion in tax increases at the end of the year. connell: you are saying to let the sequester kick in? >> spending is really going up. only washington actually app
CNBC
Feb 14, 2013 9:00am EST
. warren buffett making a big deal with heinz. i'm carl quintanilla from the stock exchange. kramer is off. we hope aol call in. heck of a week to take a vacation, one of the biggest months for m and a. year-to-date, m and a volume up 25%. berkshire hathaway, 3g buying heinz for $72.50 a share. $28 billion in debt. i know you've been working this, too. the notion now buffett is prorking with operational partners important -- portends a new area. >> one after a flurry of phone calls, the power of the brazilians. we keep saying this name 3g. people might be somewhat familiar when they think about abm or the buyout of burger king. really what 3g is is an investment vehicle for three of the richest men in brazil, some of the richest men in the world, frankly. one of them in particular. jorge paolo. there it is. they tell us, jorge paulo on the board of gillette. he was the driving force behind this deal having approached warren buffett, not long ago. this happened very, very quickly. something we'll start reading about, perhaps second day leads. we'll bring it to you now, how incredibly wealth
FOX News
Feb 14, 2013 4:00pm EST
deal with terrific people and the berkshire hathaway people led by warren buffett and the 3g people. >> obviously it's an eye-poppingly attractive order ever offer to the board. a 20% premium in the last day alone. having said that, what is going on? did the environment economically compel this move? i asked the same to airline giants whether that propelled doing a deal sooner rather than later because in this environment, you don't know your alternatives or you feel you should entertain these things more than normal. >> in our case it's different. we're being acquired from a position of great strength a consecutive run of high, excellent performance and traded at a high stock price. in our case it was the opportunity when 3g approached mr. buffett but getting together and acquiring what is my view, one of the two or three great brands in the world, certainly one of the leading brands in the united states and uk. the opportunity just matched the time and matched the lending conditions available and engine -- it was a good time to get forward. >> one could step back from this and say
ABC
Feb 14, 2013 12:00pm EST
deal is reached by march 1, cuts will take place. >> warren buffett is getting into the food business. arch are half weigh is teaming up with three g capital to buy -- berkshire hathaway is teaming up with three g capital to buy heinz. the mu has to be approved. shareholders expect to close it and the third quarter -- shareholders expect to close it and the third quarter. coming up people and one group are turning their heart ache around and using it as fuel to help themselves. >> some happy couples are tying the knot today. >> a milestone for the redskins today. >> here is a live look outside this noon. >> you're watching abc 7 at noon with scott thuman and cynne simpson. this is abc 7 news at noon. on your side. >> metro is proposing a deal in hopes of bringing the fbi's new headquarters to prince george's county. authorities will vote today whether to make 78 acres of its land available to the bureau. the fbi is looking in virginia and maryland for new states for its headquarters. the washington redskins start working on their new training camp in richmond today. virginia
PBS
Feb 14, 2013 6:00pm PST
that includes warren buffett. the $23.3 billion deal announced today will make heinz a privately held company. on wall street today, the dow jones industrial average lost nine points to close at 13,973. the nasdaq rose a point to close at 3,198. those are some of the day's major stories. now, back to jeff. >> brown: there were more hurdles today for president obama's secretary of defense nominee. late this afternoon, senate consideration of his appointment was delayed on a procedural vote of 58 to 40. at this point, the senate won't vote on him again until february 26 at the earliest. margaret warner has the story. >> there has never in the history of the country been a filibuster of a defense secretary nominee, never. >> warner: senate majority leader harry reid went to the senate floor this morning and blasted republicans for blocking a vote on chuck hagel, for the pentagon's top job. >> this isn't high school getting ready for a football game or some play that's being produced in high school. this is, we're trying to confirm somebody to run the defenses of our country. >> warn
FOX Business
Feb 14, 2013 1:00pm EST
hitting an annual high. so warren buffett talking very postively about this move. he is hot on heinz. back to you. tracy: thanks, nicole. we'll see you in 15 minutes. ashley: as nicole was talking about berkshire hathaway's takeover of heinz won't be warren buffett's first venture into the food business. he previously owned a chunk of kraft shares but cut his stake in 2010 after it took over british candy company cadbury which buffett called, dumb, unquote. in 2008 berkshire hathaway along with goldman sachs and jpmorgan provided financing for mars acquisition of wrigley. you can remember back then, berkshire hathaway took a minority stake in the wrigley subsidiary. there you go. a little bit of history. for more on today's deal, tune into "countdown to the closing bell" at 3:00 p.m. liz claman will speak to the man himself, warren buffett live. we'll hear from warren buffett at 3:00 p.m. don't miss that. tracy: he is kind of a food guy, right. ashley: he is. tracy: dairy queen. ashley: he buys and likes what he knows. he likes ketchup on his fries. tracy: let's get back to the airli
CNBC
Feb 14, 2013 6:00am EST
second and then come back to this big breaking story of course warren buffett berkshire hathaway buying heinz. let's talk about gm for a second. chief financial officer dan alman joins us first here on cnbc. good morning to you, dan. >> good morning. >> we do have a lot to get to. let's just walk through the earnings. we were talking about market share. let's talk about market share. there were so many different pieces to the earnings report, that frankly we were having a tough time understanding what was happening. >> very quickly, there's -- >> let me give you the simple -- >> confirming your story. i'm sore i to interpret. there is a release from h.j. heinz saying it is entering into this agreement. confirming the story that andrew broke. i'm sorry, dan, go ahead. >> okay, well let me give you the simple story for the quarter on an underlying basis, revenue was up for the quarter. profits up for the quarter year over year. margins were up and cash flow were up year over year. so the quarter from our perspective was right in line. you look at the full year, our third consecutiv
FOX Business
Feb 15, 2013 9:20am EST
, new secretary of state john kerry, and warren buffett, yes, the warren buffett rule. on the agenda coming up and also on the agenda, climate change and the carbon tax. yesterday the environmentalist made the claim that green energy is cheaper than coal and natural gas. really? we'll get the facts and a reaction to this after the break. >> clean energy, that's also available here in the the united states, that's coming in now cheaper than coal. cheap her than new gas, puts more people to work than dirty fuels like coal and gas. >> wait a minute, wait a minute, wait a minute. but that doesn't mean i don't want to make money. i love making money. i try to be smart with my investments. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. all your impt
PBS
Feb 15, 2013 12:00am PST
, creating the world's largest airline company; and warren buffett is buying h.j. heinz, the biggest food company acquisition ever. we'll have more on american in a moment, but we begin tonight with buffett and that surprising mega-food deal. the billionaire investor is teaming up with the billionaire owners of 3g capital to buy the ketchup maker for $28 billion. the private equity group and buffett's berkshire hathaway are paying $72.50 a share in cash. that's a 20% premium over heinz's closing price yesterday. ruben ramirez reports. >> reporter: the oracle of omaha now has a new title: ketchup king. for the first time, warren buffett, who's shied away from working with private equity partners, is teaming up with 3g capital in a $28 billion deal--
FOX Business
Feb 11, 2013 4:00pm EST
of the graduates or people who were in the class. i thought to myself, we covered warren buffett a lot. he told me doesn't like sitting on board. he doesn't like doing charity events the fact you got him to do it, how do you sell it? >> small businesses. growing america. warren buffett is all about growing opportunities, growing jobs and growing the economy in the united states. we went to warren with this idea. he loved it at the first moment he saw it. he realized economic impact of really affecting small businesses in the united states. liz: you know small businesses have been through thick and thin and a lot of thin lately too. goldman sachs, one would argue has been through tough times during the financial crisis. the quarterly numbers, where i want to get to the business questions is what is happening. you guys killed it. you did extraordinarily well in some of the older businesses like trading, investment banking. what message does that send about doing business through tough times and through tighter regulations? >> we had a good year last year especially interesting consid
CNBC
Feb 14, 2013 12:00pm EST
. >>> coming up, warren buffett makes a big bet on heinz. should you follow him into consumer stocks? >>> and sticking with food we're debating the sharp drop in shares of whole foods as the company issues a weak 2013 outlook. two traders battle it out straight ahead on the half. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> welcome back. warren buffett's berkshire buying heinz in a joint deal with 3g, the acquisition is the largest ever in the food industry. let's bring in jon najarian who noticed some unusual options activity in heinz ahead of the announcement. doc, that's why we love to hear from you on thin
FOX Business
Feb 10, 2013 1:30am EST
president look bad, perhaps an embarrassment, moody's major investor being warren buffett, they weren't involved, haven't been called out just yet. the smell test isn't great right now. >> well, with respect to the premise of the segment, i think it's silly to accuse the justice department of doing the treasury department's bidding. it just doesn't work that way. there's a longstanding tradition of going after number one, the market leader, and trying to set, to make an example. >> the market leaders. >> hold on. >> that's the point that he's trying to make. >> and let-- finish the point, adam. >> trying to understand it. >> you make an example of somebody with deep pockets. i've said that earlier. we don't have to like it, but that's how litigators and regulators go about their business and by the way, it is punitive m in case. >> okay, ben, again, saying you make an example. it's pretty curious and no one feels sorry for any of these guys, they put america through hell. why the timing of it? why s & p and none of their competits? >> wiell, i'm not fan of eric holder, i know him person
CBS
Feb 14, 2013 5:00pm EST
anticipation keeps ketchup lovers waiting but not for warren buffett. berkshire hathaway has teamed up with an investment group to buy h.j. heinz and the deal is valued at $28 billion the assumption of $4 billion in debt, but first the takeover has to be approved by heinz stakeholders. >>> coming up a young mother with parkinson's disease and the life changing surgery now being respected for more patients, we take you in the o.r. in tonight's health alert. topper? >> very nice. we have sunshine and calm winds, but big changes on the way. we'll show you temperatures. i'd grab a light jacket if you're going out, 48 downtown, 45 in gaithersburg, 48 in leesburg and manassas, 47 in fairfax, 42 in annapolis. we'll come back, talk about a cold front. we're talk >>> breaking news, republicans have temporarily blocked the vote on the nomination of senator chuck hagel as defense secretary. some of his former gop colleagues held up the vote as a way to demand more information from the white house on issues including the september attack on the american consulate in libya. hagel is a former sen
KCSMMHZ
Feb 14, 2013 2:30pm PST
against the dollar at $1.3339. >> now, billionaire investor warren buffett wants to dip into the catch of business. he is set to buy perhaps the world's most famous maker of ketchup. that is heinz. >> shares in heinz rose sharply on the news, gaining 20% by the end of the day. the pittsburgh-based company sells 650 million bottles of tomato catsup a year as well as producing many other food brands. there is another megadeal in the making -- american airlines and u.s. airways say they want to join forces in creating the biggest airline in the world in terms of passengers. >> that move comes just one year after american airlines filed for bankruptcy. analysts say the merger is likely to trigger more consolidation of airlines in the u.s. >> first, it has to get pass congress, and a leading legislator has already asked if it could hurt consumers by cutting competition pam -- by cutting competition. >> the world largest airline could be created if a merger between u.s. airways and american airlines is approved. u.s. carriers dominate the global airline industry. in 2011, american airlines w
FOX News
Feb 9, 2013 11:30am PST
major investor being warren buffett, they weren't involved, haven't been called out just yet. the smell test isn't great right now. >> well, with respect to the premise of the segment, i think it's silly to accuse the justice department of doing the treasury department's bidding. it just doesn't work that way. there's a longstanding tradition of going after number one, the market leader, and trying to set, to make an example. >> the market leaders. >> hold on. >> that's the point that he's trying to make. >> and let-- finish the point, adam. >> trying to understand it. >> you make an example of somebody with deep pockets. i've said that earlier. we don't have to like it, but that's how litigators and regulators go about their business and by the way, it is punitive m in case. >> okay, ben, again, saying you make an example. it's pretty curious and no one feels sorry for any of these guys, they put america through hell. why the timing of it? why s & p and none of their competitors? >> wiell, i'm not a fan of eric holder, i know him personally a little bit, but not a fan of him as an atto
PBS
Feb 15, 2013 4:30pm PST
june, burger king was owned by a private equity fund, the same fund partnering with warren buffett to buy heinz. energy exploration company apache continued putting pressure on the energy stock sector, after reporting disappointing results for the fourth quarter in a row and a problem with an offshore well. apache fell another 4.3% on heavy volume. the stock hafallen $7.50 p the company shut in an exploratory shallow water well in the gulf of mexico after detecting an underground flow of natural gas. regulators said it appears the company acted properly. gold is at its lowest price since august tonight, after falling $26 per ounce today, down more than 1.5% settling just above $1,600 an ounce. late yesterday in a filing, billionaire hedge fund manager george soros disclosed selling about $100 million of its position in a gold exchange traded fund in the third quarter last year. four of the five most active traded exchange traded products were lower. the russell 2,000 tracking fund eeked out a small gain. and that's tonight's market focus. >> tom: yes, the u.s. stock market remains nea
CBS
Feb 15, 2013 4:00am EST
points on thursday while the nasdaq close 1 point higher. >>> billionaire warren buffett is teaming up with 3g capital, a brazilian backed equity company to buy heinz for $23 million. heinz is famous for its 57 varieties. they're expected to expand the 144-year-old company too into a global powerhouse. heinz shares were up 20% closing. >>> toyota will pay $29 million to 30 states and american samoa to settle a safety lawsuit filed by attorneys general. the lawsuit was related to allegations that toyota concealed defects in its vehicles that led to unintended excel rachlgs toyota has agreed to provide information to its customers in a more timely fashion. >>> and finally the house lost big at the trump plaza casino and resort in atlantic city, new jersey. a california company brought the struggling gambling hall for $20 million on thursday. the trump plaza cost, get this, $210 million when it was built almost two decades ago. the new owner says they will make a sizeable investment in the property. that is quite a deal, anne-marie. >> it i. ashley morrison here in new york, thank you.
MSNBC
Feb 15, 2013 2:00am PST
. >>> the week's wheeling and dealing continues to roll high for heinz. sold to warren buffett. shares of anheuser busch inbev were higher after it changed its terms of its acquisition of the mexican brewer. >>> in the wake of boeing's battery problems, air bus is scraping the same lithium ion batteries. >>> tiffany and company failed a lawsuit against costco thursday saying that it falsely sold diamond ring under the tiffany name. >>> well, women have made huge strides in the work place but they're still falling short when it comes to pay. women made only 81% compared to their male counterparts. >>> it was happy valentine 's the day for this couple, they collected a $217 million powerball jackpot. >>> straight ahead -- kangaroos take over a golf tournament. and take a look at this amazing video from san diego. where sea world welcomed a new bundle of joy. you're watching today's "first look." to have germy surfaces. but after one day's use, dishcloths can redeposit millions of germs. so ditch your dishcloth and switch to a fresh sheet of new bounty duratowel. look! a fresh sheet of bount
NBC
Feb 15, 2013 4:30am EST
wheeling and dealing continue to roll high as the iconic ketchup brand sold to $23 billion to warren buffett's berkshi berkshi berkshire's hathaway. >>> shares of grupo modello were higher. federal regulators are worried about lack of competition in the beer market. >>> in the wake of boeing's battery problems, airbus is scrapping the same lithium batteries in its new a-50s. >>> tiffany and company filed a lawsuit against costco thursday claiming it falsely sold diamond engagement rings in its stores under the name. >>> walmart's british supermarket discovered horse dna from its beef bouillonese sauce. >>> women have made huge strives in the workforce. women made only 81% as their male counterparts last year. >>> and it was a very happy valentine for dave and nancy honeywell of fredericksburg, virginia. the lucky company collected $217 million powerball jackpot as a one-time payment of $136 million. the odds of that win, 1 in 175 million. that is a great valentine's day. >>> well, straight ahead, kangaroos take over a golf tournament. and lebron hands kevin a big one just before the
NBC
Feb 15, 2013 4:00am EST
wheeling and dealing continue to roll high as the iconic ketchup brand sold to warren buffett. >>> shares of grupo modello were higher. federal regulators are worried about lack of competition in the beer market. >>> and airbus is scrapping the same lithium batteries in its new a-50s. >>> tiffany and company filed a lawsuit claiming it falsely sold under the tiffeny name. >> and walmart pulled a product from its shelves. >>> women have made huge strives in the workforce. women made only 81% as their male counterparts last year. and it was a very happy valentine for dave and nancy honeywell of fredericksburg, virginia. the lucky company collected $217 million from the powerball jackpot as a one-time payment of $136 million. the odds of that win, 1 in 175 million. >>> straight ahead, kangaroos take over a golf tournament. and lebron hands the cavs a big one. you're watching "early today." >>> welcome back. now to some other stories that caught our eye this morning. we start in connecticut where thousands came out to rally for gun control. marchers for change coincided with the two-month ann
LINKTV
Feb 15, 2013 5:30am PST
richest man has an appetite for heinz baked beans and tomato catchup. warren buffett is teaming up investment firm -- with a brazilian investment firm to the ui -- to buy heinz. for 26 million dollars. perhaps devoting spare time to a challenging piano concerto. a video from the vatican tv shows pope an addict playing the piano. -- shows pope benedict playing the piano. showcasing work at the berlin film festival. this is in contrast with the rest of journey, where many women are unable to get work because of childcare. . >> the berlin film festival, i berlin itself, has always had a reputation for being edgy and different. for filmmakers like stacy, that is good news. >> all the other filmmakers i know also feel that way. if they are making cutting edge or edgy material, they are interested in going to berlin. interested in going to berlin.
NBC
Feb 15, 2013 4:00am PST
wheeling and dealing continued, heinz ketchup sold for $23 billion to warren buffett's berkshire hathaway. shares of anheuser busch, in bev and grupo modelo were higher after inbev changed the $20 million acquisition with the brewer. they were worried about lack of competition. >>> scrapping lithium batteries in a-350s, tiffany & company filed a federal lawsuit against costco thursday claiming it falsely sold diamond engagement rings in their stores under the tiffany name. >>> walmart's british supermarket discovered horse dna in it's beef bolognese sauce. >>> women making strides but still short when it comes to pay. new labor data shows women make 81% compared to their male counter-parts last year. >>> a very happy valentine's of dave and nancy honeywell. they collected a $207 million jackpot, a one-time payment of $136 million. the odds of that win, 1 in 175 million. >>> straight ahead, kangaroos take over a golf tournament and lebron hands kevin a big one just before the all-star break. you're watching early "today." stories that caught our eye this morning. in connecticut, t
NBC
Feb 14, 2013 5:30pm PST
investor warren buffett announced today he's teaming up with a brazilian private equity firm to buy heinz, the pennsylvania-based brand name for $23 billion. buffett already owns dairy queen and a candy company and he's famous for his love of cheese burgers. so this purchase kind of made sense to a lot of buffett-watchers. >>> senator frank lautenberg the senior senator from new jersey, a democrat, announced today he will not run again. lautenberg is a five-term senator, the oldest serving senator, 89, and the last remaining world war ii veteran currently in the u.s. senate. the race for the seat will be closely watched. newark's mayor cory booker has already filed papers to run for his seat. >>> the president was on the road today. in fact, he was practically on the floor with a bunch of preschoolers. lots of hugs and high-fives in a pre-k classroom in decatur, georgia. a look under the magnifying glass. one of the 4-year-old's asked if he was their teacher. after that got cleared up, there was another reason for his trip. the official business pushing his early childhood education plan
CNN
Feb 16, 2013 11:00am PST
moved closer to their beer merger. warren buffett announced 80s buying is food giant heinz. and if u.s. regulators allow it, usair will take over bankrupt american airlines creating the world's biggest airline in the process. that deal is good for investors but passengers worry airfares will salute up. but take a look at this. just after airline deregulation came into effect, there were 20 major airlines in the united states. by 1990, there were only 12 major airlines in operation. today just seven and with "uss air and american merging we'll be down six. usair and american don't have a lot of overlapping routes or hubs. in the end there will only be about out routes out of the 9000 or so that will be served by one airline. they may see fares go up. but look at this. since 1979, prices for an average domestic economy airfare have dropped from $579 then to $365 now though they have started to tick up a little bit lately. so so much for that myth that merging airlines causes prices to go up. thanks for watching me this week. find me on niceback at facebook.com/ali velshi "see you mon
CBS
Feb 15, 2013 4:30am EST
little more than a point. back to the heinz deal. billionaire investor warren buffett has teamed up with 3g capital to buy h.j. heinz. they're working with a brazilian group of investors on the deal but the takeover has to be approved by heinz' shareholders. investors continue to have faith in their 401(k) retirement funds. balances reached record highs last year with an average balance of just over $77,000. stock market gains accounted for about two-thirds of this increase while one-third came from workers increasing their 401(k) contributions. >>> toyota will pay millions as part of its settlement for its safety recalls. the japanese automaker will pay $29 million to 29 states and american sow samoa. -- american samoa. toyota promised to deal more quickly with customer complaints. we still have been seeing recalls from toyota even in the wake of the big problems that they've been having. there still seems to be some legacy issue there is. >> they're trying to sell cars because they have new lease deals they never had before and there are commercials every four seconds for toyota.
KICU
Feb 15, 2013 4:00am PST
. > what about all the merger deals this week? we have berkshire-hathaway, warren buffett's group, buying heinz, the a-m-r u.s. airways deal. what does this mean for wall street? > > i think it is really good. i think it points toward some bullishness in the market, and some bullishness in the m&a market, which is good for everybody. i think that you could see a real pickup in m&a activity toward the end of q1 and into q2, which is bullish the s&ps and dow for sure. > thank you mark. have a good trading day. > > thank you. the merger of american airlines with u.s. airways is the 5th large airline merger since 2001. our cover story takes a look at who wins on the business side and whether consolidation of two more large carriers is good for consumers. american airlines keeps its name, but analysts say it'll be u.s. airways management in charge with increased collaboration from employee labor groups. "i'm hopeful and optimistic they'll include labor, whereas american did everything to exclude labor from their business practices." both airlines have been flying in different direction
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